Price of a loaf is set to increase; BRITAIN TODAY CONSUMER.
Droughts which have devastated maize crops in the US have caused a dramatic increase in demand for wheat, with prices rising by a third in just one month in both London and Paris, the Grocer magazine said.
Consumers have now been warned bakers will be forced to increase the price of a loaf to cover their increased supply costs. Michael Clarke, CEO of Hovis baker Premier Foods, said: "The sheer magnitude of the wheat price increases means that we will have to pass them on."
Bread makers have braced themselves for a possible repeat of 2010, when failed harvests and export bans sent grain prices soaring.
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|Publication:||The Journal (Newcastle, England)|
|Date:||Aug 11, 2012|
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